Clean Energy's IMW Subsidiary to Supply up to 416 CNG Compressors to China Gas for the Construction of 310 CNG Stations in China

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Published: Aug 29, 2013 2:38 p.m. ET

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CHILLIWACK, British Columbia, Aug 29, 2013 (BUSINESS WIRE) --
IMW
Industries, Ltd., a wholly-owned subsidiary of Clean
Energy Fuels Corp.
CLNE, -1.54%
today announced a master purchase contract with China
Gas Holdings Ltd. (sehk:384)
to supply up to 416 natural
gas compressors and related technologies for the construction of up
to 310 public access compressed natural gas (CNG) stations in China. The
three-year agreement has a potential value of approximately U.S. $167
million.

"The spirit of China Gas is built on integrity, innovation and
cooperation; our agreement today with IMW is an example of this spirit
in practice," said Mr. Liu Ming Hui, executive chairman, managing
director and president of China Gas Holdings. "IMW is the world-leader
in natural gas vehicle compression technologies and the ideal strategic
partner for China Gas as we continue to meet the growing transportation
needs of our customers in an environmentally sustainable manner."

Under the agreement, IMW anticipates supplying a suite of its CleanGAS
Technology(TM) products and services, including up to
approximately 416 CleanCNG Compressors(TM), 186 dryers, 527
dispensers, and 387,500 liters of buffer storage to China Gas' joint
venture distribution partners for the construction of up to 310
stations. This is in addition to the 124 stations IMW has already
equipped in China; all equipment is manufactured at IMW's facility in
Suzhou-Taicang, China.

"China has grasped the potential of natural
gas as an alternative to gasoline and diesel fuel and is
aggressively building the necessary infrastructure to realize this
potential," said Andrew
J. Littlefair, president and CEO of Clean Energy. "In the coming
years, China Gas and its partners plan to construct the equivalent of
over half of all the public access CNG stations currently available in
the United States--significant for our companies and the future of
cleaner transportation in China."

China Gas has secured financing for this transaction from Export
Development Canada, which is expected to be utilized throughout the
three-year agreement to help purchase the products and services under
the purchase contract. An initial $5 million has been utilized for the
purchase of 29 CleanCNG Compressors, which are anticipated to be
delivered during the fourth quarter of 2013 and used to construct the
first 19 stations.

"IMW is proud of the long term partnership we have developed with China
Gas and we are eager to build this relationship through our continued
support of their growth," added Brad
Miller, president of IMW.

ABOUT IMW INDUSTRIES

IMW Industries is the largest sole manufacturer of non-lubricated
natural gas compressors and related technologies for natural gas fueling
applications in the world. IMW's products are manufactured in
Chilliwack, British Columbia, Ferndale, Washington, and Shanghai, China,
and are utilized at private and public access fueling stations, as
virtual pipelines and in industrial gas solutions. Headquartered in
Chilliwack, British Columbia, IMW is a wholly-owned subsidiary of Clean
Energy Fuels Corp.
CLNE, -1.54%
the largest provider of natural gas
fuel for transportation in North America. For more information, visit www.imw.ca.

ABOUT CHINA GAS

China Gas Holdings Limited ("China Gas," SEHK:384) is principally
engaged in the investment, construction and management of city gas
pipeline infrastructure, distribution of natural gas and LPG to
residential, industrial, commercial users, and through gas stations to
the transportation sector. Major shareholders of the Company include the
Beijing Enterprises Group (BVI) Company Limited, SK group of companies,
Fortune Oil PLC in UK, Sinopec, the second largest petroleum and natural
gas producer in China, and Gail (India) Limited. To date, China Gas owns
a total of 194 natural gas projects, including exclusive piped gas
development rights in 184 cities and regions, 9 natural gas pipeline
transmission projects, 1 natural gas exploration project, as well as the
license to import and export LNG and other fuel products in China, and
44 LPG distribution projects.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 that involve risks, uncertainties and
assumptions, including statements about the number of natural gas
vehicle fueling stations to be constructed by China Gas and its
partners, the amount of compressors and other equipment to be sold by
IMW to China Gas and its partners, the economic value of the master
purchase agreement and any equipment supplied thereunder, the
availability of financing from Export Development Canada and the
benefits of natural gas relative to gasoline and diesel fuel. Actual
results and the timing of events could differ materially from those
anticipated in these forward-looking statements as a result of several
factors, including, but not limited to, failure by China Gas and its
partners to build the expected stations and/or purchase compressors and
equipment from IMW. The forward-looking statements made herein speak
only as of the date of this press release and, unless otherwise required
by law, the Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances. Additionally, the reports and other documents the Company
files with the SEC (available at www.sec.gov)
contain risk factors, which may cause actual results to differ
materially from the forward-looking statements contained in this news
release.

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